The Relationship between Financial Leverage and Profitability by Emphasis to Income SmoothingIn Iran's Capital Market
Publish place: 2nd International Conference on Management, Entrepreneurship and Economic Development
Publish Year: 1392
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
EME02_1701
تاریخ نمایه سازی: 14 شهریور 1393
Abstract:
The main purpose of this research is the study of the financial leverage effect on profitability and also the presence of smoothing in listed companies of Tehran Stock Exchange. Since financial reports are important in forecasting and decision making of users, therefore, in this research has been addressed to survey income smoothing effect on financial leverage and profitability during1385-1389 period. In this study, 60 companies listed on the Tehran Stock Exchange were selected by using systematic elimination way and for analysis and hypothesis testing using from statistical techniques such as simple linear regression and Pearson's correlation test and Zr. And finally used in ECKEL model for identifying smoothing firms from non-smoothing. This research findings confirmed the presence of smoothing and relationships between financial leverage and profitability in listed companies of Stock Exchange and showed that firms do smooth include operating profit, gross profit and net profit. The main result of the study indicates that despite significant relationship between some variety of research hypotheses in smoothing and non-smoothing firms, there are significant differences between financial leverage and profitability between these two groups of firms.
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Authors
Prof Xu Fengju
Management school, Wuhan University of Technology, Wuhan, China
Rasool YariFard
Ph.D. student in Accounting, Wuhan University of Technology, Wuhan, China
Leila Ghassab Maher
Islamic Azad University Ajabshir Branch, Ajabshir, Iran
Nader Akhteghan
Payame Noor University Bonab Branch, Bonab, Iran